Global Microneedle Patches Market Overview:
A Microneedle Patches is an array/patch for transdermal drug delivery. Microneedles are tiny tools used to convey vaccines or different medications across different obstructions, while the transdermal application is the most mainstream utilization of microneedles, intraocular and intracochlear microneedle drug conveyance frameworks are arising. Microneedles are built through different techniques typically including photolithographic measures or micro molding. These strategies include scratching minute construction into gum or silicon to project microneedles. Microneedles are produced using an assortment of materials going from silicon, titanium, tempered steel, and polymers. Some microneedles are made of a medication to be conveyed to the body however are molded into a needle so they will enter the skin.
- Growing research and development initiatives
- Growing demand for a safer alternative to conventional hypodermic injections
- Drug degradation and poor absorption
- Local irritation and variability in absorption
- Continuous research and development of new framework regarding microneedle patches in emerging countries
- Formulation of standard rules and regulations for safety measures
- High cost of research and development
- Development of favorable government policies regarding health care infrastructure and awareness of contagious diseases.
The leading organizations in the market to avail competitive advantage makes new launches of the microneedle patch under their own brand. The companies know that different players are coming into the market and they are making the collaboration with the other leading players and develop new systems.
Some of the key players profiled in the report are Skyn ICELAND (United States), Sparsha Pharma (India), Raphas (Korea), Micropoint Technologies (Singapore), Bela LAB (United States), Nissha Co. (Japan), CosMED Pharmaceutica (Japan), Micron Biomedical (United States) and Win Coat Corporation (India). Analyst at AMA Research see United States Players to retain maximum share of Global Microneedle Patches market by 2026.
Latest Market Insights:
On 27 September 2019, LOUGHBOROUGH, England Nemaura Pharma Limited, a UK-based Biopharmaceutical Company specializing in transdermal and injectable drug delivery systems announced a strategic collaboration with Sparsha USA. Sparsha is based in California and specializes in the development and commercial manufacture of transdermal patches and oral thin films. Under the terms of the strategic collaboration, Nemaura will develop transdermal therapeutic systems at its facilities in Loughborough UK, up to pilot clinical manufacture, for global Pharmaceutical companies as well as internally funded programs.
On 14 May 2019, Nissha Co., Ltd. has begun selling its own brand cosmetic microneedle patch SHOT MODE series. Using its core technologies of high-precision molding and laminating, Nissha has succeeded in developing hyaluronic acid-based microneedles. This is the first time that Nissha has started selling the cosmetic microneedle patches under its own brand.
What Can be Explored with the Microneedle Patches Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Microneedle Patches Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Microneedle Patches
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Microneedle Patches market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Microneedle Patches market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Skincare Hospitals, Industrial Associations, Government Regulatory Bodies, Government Research Organizations and Private Research Organizations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Microneedle Patches Market?
The Microneedle Patches market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Microneedle Patches Market?
Top performing companies in the Global Microneedle Patches market are Skyn ICELAND (United States), Sparsha Pharma (India), Raphas (Korea), Micropoint Technologies (Singapore), Bela LAB (United States), Nissha Co. (Japan), CosMED Pharmaceutica (Japan), Micron Biomedical (United States) and Win Coat Corporation (India), to name a few.
3. What trending factors would impact Microneedle Patches Market growth most?
"Increase in adoption in a number of safety issues that are emerging, which have short and long term implications for clinicians, patients
" is seen as one of major influencing trends for Microneedle Patches Market during projected period 2020-2026.